Rhumbline Advisers Decreases Stake in Eagle Materials Inc. (NYSE:EXP)

Rhumbline Advisers lowered its position in Eagle Materials Inc. (NYSE:EXP - Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,945 shares of the construction company's stock after selling 1,096 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Eagle Materials worth $25,156,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company's stock worth $10,915,000 after acquiring an additional 16,645 shares during the last quarter. Ausbil Investment Management Ltd lifted its stake in Eagle Materials by 400.3% in the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company's stock worth $3,733,000 after acquiring an additional 10,384 shares during the last quarter. Baupost Group LLC MA lifted its stake in Eagle Materials by 46.2% in the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company's stock worth $143,904,000 after acquiring an additional 158,171 shares during the last quarter. Entropy Technologies LP purchased a new position in Eagle Materials in the third quarter worth approximately $920,000. Finally, Natixis Advisors LLC lifted its position in shares of Eagle Materials by 11.8% during the 3rd quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company's stock worth $7,843,000 after buying an additional 2,871 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup downgraded shares of Eagle Materials from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $334.00 to $280.00 in a research report on Monday, January 6th. Jefferies Financial Group downgraded shares of Eagle Materials from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Truist Financial boosted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Stephens restated an "overweight" rating and set a $310.00 price objective on shares of Eagle Materials in a research report on Thursday, January 30th. Finally, DA Davidson reduced their price objective on shares of Eagle Materials from $265.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $296.80.

Insider Buying and Selling at Eagle Materials

In other news, Director Michael R. Nicolais acquired 310 shares of the company's stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $257.36 per share, with a total value of $79,781.60. Following the purchase, the director now owns 3,655 shares of the company's stock, valued at $940,650.80. This represents a 9.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Stock Performance

Shares of Eagle Materials stock traded down $9.75 during trading on Friday, reaching $223.19. The company's stock had a trading volume of 254,355 shares, compared to its average volume of 328,260. The company has a 50-day moving average price of $251.66 and a two-hundred day moving average price of $270.48. The firm has a market cap of $7.43 billion, a PE ratio of 15.94 and a beta of 1.37. Eagle Materials Inc. has a fifty-two week low of $211.44 and a fifty-two week high of $321.93. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. On average, analysts forecast that Eagle Materials Inc. will post 14.39 EPS for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 0.45%. Eagle Materials's dividend payout ratio is currently 7.14%.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.